An Ethereum (ETH) whale that had been largely inactive for about three years has become active again. According to on-chain data, the address in question transferred millions of dollars worth
An Ethereum (ETH) whale that had been largely inactive for about three years has become active again. According to on-chain data, the address in question transferred millions of dollars worth of ETH to the Kraken exchange, and it was calculated that if the transaction had been made for selling purposes, the investor could have realized a loss of approximately $6 million.
The address 0x7C5…77b86 withdrew a total of 23,834.17 ETH between February 15 and March 21, 2022, at an average price of $2,723.2. At that time, the total value of these Ethereums was approximately $64.9 million. The investor subsequently staked their assets via Rocket Pool.
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After nearly three years of silence, the whale, which had been active for a while, deposited 7,323 ETH into Kraken 10 hours ago. The current value of the transferred assets is estimated at approximately $13.96 million.
If the whale sells these ETH at current levels, it will realize a loss of approximately $5.98 million compared to its approximate cost in 2022. The total value of the address’s ETH investment has also decreased by approximately 30 percent compared to the time the initial position was created.
*This is not investment advice.
Continue Reading: Ethereum Whale That’s Been Waiting for Three Years Has Woken Up: It’s Facing Millions of Dollars in Losses
